Ownership costs are the costs to purchase and operate a vehicle over a period of time. Understanding these costs may enable you to save money and help you make a wiser decision when choosing your next new car.

Regardless of the “value” claims that you may read in car reviews or hear in advertisements, the economic value of a car is based on how much it will cost to own and operate compared to its purchase price. In a sense, purchase price is “what you pay” and the ownership costs are “what you get.”

Ownership costs can differ greatly. The cost to own and operate two different vehicles with equal purchase prices can differ by thousands. Of course when evaluating ownership cost for used cars and trucks, a vehicle's condition and mileage will greatly impact ownership costs, therefore it's important to compare similar vehicles in similar condition for an accurate picture.

2004 Cadillac XLR Warranty

Basic Warranty: The basic warranty covers everything except items that are subject to wear and tear or replacement in the ordinary course of vehicle ownership, such as oil and air filters, wiper blades and brake pads. Tires and batteries are often excluded, but usually have their own warranty provided by the manufacturers of those items. Emissions equipment is required by Federal law to be covered for five years or 50,000 miles.

Drive Train Warranty: In some cases the drive train warranty continues after the basic warranty has expired. This part of the warranty covers most of the parts that make the vehicle move, including the engine, transmission, drive axles and driveshaft. Like the basic warranty, consumable parts such as hoses and belts are not covered. However, most of the internal parts of the engine, such as the pistons and bearings, which are also subject to wear and tear, are covered by the drive train warranty.

Roadside Assistance: Many manufacturers provide a service that will rescue you if your car leaves you stranded, even if it's your fault. Lock yourself our of your car? Run out of gas? Got a flat tire? A call to the manufacturer's toll-free number will result in somebody showing up who can help you out. There is a huge variance in these programs so check ahead of time to see what is covered and what you will have to pay for.

Rust or Corrosion Warranty: Rust or Corrosion Warranty: This warranty covers the vehicle's sheet metal, and protects you from rust and corrosion that are severe enough to cause a hole - surface rust is not covered. However, if you keep your car washed and waxed rust shouldn't be a problem.

CERTAIN PASSENGER VEHICLES FAIL TO COMPLY WITH THE REQUIREMENTS OF FEDERAL MOTOR VEHICLE SAFETY STANDARD NO. 124, 'ACCELERATOR CONTROL SYSTEMS.' IF ONE OF THE TWO ACCELERATOR PEDAL RETURN SPRINGS FAILS AND THE TEMPERATURE IS -22 DEGREES F TO -40 DEGREES F, THE ENGINE MAY NOT RETURN TO IDLE WITHIN THREE SECONDS, AS REQUIRED.

Consequences:

IF THIS WERE TO OCCUR, GREATER BRAKE PEDAL FORCE AND A LONGER DISTANCE MAY BE REQUIRED TO STOP THE VEHICLE.

Remedy:

DEALERS WILL REPLACE THE ACCELERATOR PEDAL ASSEMBLY. THIS RECALL BEGAN ON MARCH 8, 2005. OWNERS MAY CONTACT CADILLAC AT 1-866-982-2339 OR PONTIAC AT 1-800-620-7668.

ON CERTAIN PASSENGER VEHICLES, THE DAYLIGHT RUNNING LIGHTS (DRL), TURN SIGNAL, AND PARKING LAMPS USE THE SAME BULB. THE BULB MAY BECOME DAMAGED FROM VIBRATION WITHIN A LOOSE FITTING SOCKET OR AIR ENTERING THE BULB DUE TO AN INADEQUATE SEAL. BOTH OF THESE CONDITIONS WILL CAUSE THE BULB TO BURN OUT PREMATURELY.

Consequences:

IF THIS WERE TO OCCUR, THE DRIVER WOULD NOTICE THAT THE ARROW IN THE INSTRUMENT PANEL WOULD FLASH FASTER THAN NORMAL WHEN THE TURN SIGNAL IS ACTIVATED. THE LOSS OF THE DRL AND TURN SIGNALS COULD FAIL TO WARN OTHERS OF THE DRIVER'S PRESENCE OR INTENTIONS AND COULD LEAD TO A VEHICLE CRASH.

Remedy:

DEALERS WILL REPLACE THE SOCKET AND BULB IN BOTH LAMPS FREE OF CHARGE. THE RECALL BEGAN ON JULY 31, 2006. OWNERS MAY CONTACT CADILLAC AT 1-866-982-2339.

TI AUTOMOTIVE IS RECALLING CERTAIN FUEL PUMPS, PART NUMBERS TU456 AND TU303, SOLD UNDER VARIOUS BRAND NAMES AS AFTERMARKET AND REPLACEMENT EQUIPMENT FOR THE MOTOR VEHICLES LISTED ABOVE. THE DEFECTIVE FUEL PUMP MAY SEIZE, STOPPING THE FUEL FLOW TO THE ENGINE CREATING A STALLING CONDITION.

Consequences:

A VEHICLE CRASH COULD OCCUR SHOULD THE ENGINE STALL WHILE IN USE.

Remedy:

TI AUTOMOTIVE WILL NOTIFY OWNERS OF RECORD AND WILL REPLACE ANY DEFECTIVE FUEL PUMP WITH A NEW OR REWORKED FUEL PUMP FREE OF CHARGE. THE SAFETY RECALL BEGAN ON FEBRUARY 22, 2011. OWNERS MAY CONTACT TI AUTOMOTIVE AT 1-866-867-3759 OR LOG ON TO WWW.RECALLRESPONSE.COM.

CERTAIN PASSENGER VEHICLES WERE PRODUCED WITH ONE OR BOTH REAR BRAKE HYDRAULIC LINES THAT CAN COME IN CONTACT WITH OR BE AFFECTED BY HEAT FROM THE LEFT ENGINE EXHAUST MANIFOLD AND THE LEFT EXHAUST PIPE. THE BRAKE FLUID COULD REACH ELEVATED TEMPERATURES AND BOIL.

Consequences:

IF THE BRAKE FLUID BOILS IN A REAR BRAKE LINE, THE EFFECTIVENESS OF THE REAR BRAKE SYSTEM WOULD BE REDUCED WHICH COULD RESULT IN A BRAKE LINE LEAK AND LOSS OF BRAKE FLUID. IF ENOUGH FLUID LEAKS FROM THE REAR BRAKE SYSTEM SO THAT BRAKE PEDAL APPLICATION CAN NO LONGER BUILD PRESSURE TO THE REAR BRAKES. THE OPERATOR OF THE VEHICLE WILL EXPERIENCE LIMITED BRAKING WHICH COULD RESULT IN A CRASH.

Remedy:

DEALERS WILL (1) INSPECT THE LEFT ENGINE EXHAUST MANIFOLD CLIP FOR PROPER ALIGNMENT AND PLACEMENT ON THE BODY-MOUNTED STUD. IF INCORRECT, THEY WILL REPOSITION THE CLIP ON THE BRAKE LINES AND REINSTALL THE CLIP ON THE STUD; (2) THE DEALER WILL VERIFY THAT BOTH REAR BRAKE LINES HAVE THE PROPER CLEARANCE TO THE LEFT EXHAUST PIPE. THEY WILL REPOSITION THE LINES BY BENDING AS NECESSARY; (3) DEALERS WILL REMOVE THE MACHINING TAB FROM THE REAR DIFFERENTIAL HOUSING. ALSO, DEALERS ARE TO INSPECT THE BRAKE LINES FOR WEAR IN THESE RELATED AREAS AND REPAIR OR REPLACE IF THERE IS ANY SIGN OF WEAR-THROUGH ON THE NYLON OVERCOATING. THE RECALL BEGAN ON JANUARY 18, 2005. OWNERS SHOULD CONTACT CADILLAC AT 1-866-982-2239 OR CHEVROLET AT 1-800-630-2438.

ON CERTAIN PASSENGER VEHICLES INVOLVED IN THIS CAMPAIGN, THE LOWER CONTROL ARM BALL STUD NUT/WASHER ASSEMBLIES WITH WASHERS WERE MADE OF THE WRONG MATERIAL. THE WASHERS MAY FRACTURE AND BECOME LOOSE OR FALL AWAY FROM THE VEHICLE, REDUCING CLAMP LOAD. SEPARATION OF THE CONTROL ARM BALL STUD AND STEERING KNUCKLE, DUE TO DISENGAGEMENT OF THE TAPERED ATTACHMENT AND RETAINING NUT, IS POSSIBLE.

Consequences:

IF THE CONTROL ARM SEPARATES FROM THE KNUCKLE, THE AFFECTED CORNER OF THE VEHICLE WILL DROP AND THE CONTROL ARM WOULD BE FORCED DOWNWARD, CONTACTING THE WHEEL. THE AFFECTED WHEEL COULD TILT OUTWARD AND CREATE A DRAGGING ACTION THAT WOULD TEND TO SLOW THE VEHICLE AND CREATE A TENDENCY FOR THE VEHICLE TO TURN IN THE DIRECTION OF THE AFFECTED WHEEL. IN EXTREME SITUATIONS, THE AFFECTED WHEEL ASSEMBLY COULD SEPARATE FROM THE VEHICLE. SEPARATION OF THE WHEEL ASSEMBLY WOULD ALSO SEVER THAT WHEEL;S HYDRAULIC BRAKE HOSE AND RESULT IN DIMINISHED BRAKING PERFORMANCE OF THE VEHICLE, WHICH COULD RESULT IN A CRASH.

Remedy:

DEALERS WILL INSPECT THE BALL STUD JOINTS AND MEASURE THE TORQUE OF THE NUT FOR ALL FRONT LOWER CONTROL ARMS IN ALL MODELS AFFECTED AS WELL AS THE REAR LOWER CONTROL ARMS ON THE XLR AND CORVETTE. IF THE TORQUE IS NOT AT SPECIFICATION, THE DEALERS WILL REPLACE THE BALL STUD, THE KNUCKLE, AND THE NUT. IF THE TORQUE IS AT SPECIFICATION, THE DEALERS WILL REPLACE THE NUT/WASHER ASSEMBLY ONLY. THE RECALL WILL BEGIN ON AUGUST 25, 2004. OWNERS SHOULD CONTACT CADILLAC AT 1-866-982-2339 OR CHEVROLET AT 1-800-630-2438.